What Is Disruptive Technology?
Disruptive Technology is an alternative for industries, consumers, and businesses to operate. Disruptive Technology operates and enhances the superior attributes in the working of an industry. The latest examples of companies that have adopted disruptive technology include e-commerce business, online news sites, ride-sharing apps, and GPS systems. Sometime back, automobile, electricity, and television were the first ones to adopt disruptive technologies.
Companies that believe in risk-taking know that the adaption of disruptive technology holds a lot of potentials. This can help the organizations to target the market and assimilate it into their business.
RippleNet Makes Use of Disruptive Networking Technology
Why does it happen that successful companies fail to adopt disruptive technology?
“Why do once successful, large companies often fail to adopt disruptive technology?” Learn how this quote from my business school days applies to today’s global payments industry.https://t.co/pfx1huYwhc
— Emi Yoshikawa (@emy_wng) May 14, 2020
Briefly, disruptive technologies allow incorporating new schemes and strategies to stand out in the market. Making use of the disruptive technology theory, the companies cover-up the back-ordered requirements of the market and surpass the mainstream market by making persistent improvements.
RippleNet makes use of disruptive networking technology and brings innovative ways of money transfer. The idea that Professor Christensen initiated through his theory “The Innovator’s Dilemma” has changed the dynamics of the industrial market. RippleNet has changed how the market works. Ripplenet was initially incorporated in the settlement market, which is not taken into consideration on a global level but has a higher revenue from the corporate sectors.
The users who are using RippleNet from quite some time now avail a lot of benefits to bring a steady growth to their business with the help of expanded corridors and additional use cases.
How Can Financial Institutions Make a Proper Use of Disruptive Technology?
Professor Christensen came up with a lot of theories to help well-established organizations to know how to incorporate disruptive technology. According to the professor, it is very important for the firms to know that incorporation of disruptive technology holds a lot of potentials to come up with new strategies to stand out in the mainstream market. The companies should not compare disruptive technology with the current technologies. It is quite obvious that both of these technologies tackle different customer needs.
The companies have to be aware that the incorporation of disruptive technologies will show steady growth and gradually come up with faster developments in the near future. The companies should not make quick judgments about the emerging disruptive technology. As per previous reports, disruptive technology has been making consistent improvements in the market.